September 22, 2014
Author: , Esq.
It is very important for physicians to know what to look for once an employment contract is received from either a hospital, a hospital provider, or other physician group. A physician needs to carefully look at some of the important contract provisions and how they will impact the physician’s future as they work through those employment agreements. This review is really important in the sense that, more and more, physicians are becoming employed by hospitals or other providers. This is shown in a number of national trends concerning how they will conduct their business in regard to the physician practice. Physicians need to consider the key provisions within those contracts, identify some of the key negotiable terms and look at which terms are most important to them, understand fully the compensation and benefits provisions, look at the provisions of a possible buy-in, review the professional liability insurance that may be protecting them as they conduct work, examine the non-compete and termination provisions which are important in contract maneuverability, and finally, understand the significance of all other provisions within the contract, why they are important, and how those provisions can be important to the physician’s future.
Understanding all the provisions within the contract that may affect and impact your employment situation is essential. I believe it is key that a physician look for a healthcare lawyer who knows and understands what the impact is of the contract that is being reviewed. I would recommend physicians work with a lawyer that is very familiar with the health care industry and the specific provisions within a healthcare contract. Some of the provisions appear to be like any ordinary business contract, but in reality, healthcare contract provisions are significantly different and specific to the healthcare profession.
